The financial services industry suffered heavily during mortgage crisis in 2008. In addition to significant losses,...

  

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The financial services industry suffered heavily during mortgage crisis in 2008. In addition to significant losses, the sector also had to deal with strict and aggressive regulations of their investing activities, To expand its business, more employees were hired by Barclays Capital under the leadership of its former chief executive, Bob Diamond, who wanted to make it the largest investment bank in the world. But Barclays Capital staff was found manipulating the London Inter-Bank Offered Rate (LIBOR) and Barclays was fined 290 million and as a result of this the bank's chairman, CEO, and COO had to resign. In an internal review it was found that the mindset of "win at all costs" needed to be changed so a new strategy was necessary due to the reputational damage done by the LIBOR affair and new regulatory restrictions. In 2012, Antony Jenkins became new CEO. He made the following changes in 2014, which led to increase of 8% in share price. QUESTIONS: 1. Review the case and give the possible change management techniques if you were offered the position of new CEO. The financial services industry suffered heavily during mortgage crisis in 2008. In addition to significant losses, the sector also had to deal with strict and aggressive regulations of their investing activities, To expand its business, more employees were hired by Barclays Capital under the leadership of its former chief executive, Bob Diamond, who wanted to make it the largest investment bank in the world. But Barclays Capital staff was found manipulating the London Inter-Bank Offered Rate (LIBOR) and Barclays was fined 290 million and as a result of this the bank's chairman, CEO, and COO had to resign. In an internal review it was found that the mindset of "win at all costs" needed to be changed so a new strategy was necessary due to the reputational damage done by the LIBOR affair and new regulatory restrictions. In 2012, Antony Jenkins became new CEO. He made the following changes in 2014, which led to increase of 8% in share price. QUESTIONS: 1. Review the case and give the possible change management techniques if you were offered the position of new CEO.

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As the new CEO of Barclays Capital tasked with implementing change management techniques to address the reputational damage and regulatory restriction... View the full answer